SET Economics Question Answers

SET Economics Question Answersfor competitive exams: This mock test having mcq question each also from Paper II, Paper III Syllabus, with four choices. On each click on answers system will tell you where the answers is correct or incorrect. You can view this SET Economics test question details at the end of the quiz.

SET/SLET Economics Paper II - Mock Test

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Question 1

The revealed preference theory is based on the assumption of

A

Strong ordering

B

Weak ordering

C

Negative income elasticity

D

Cardinal utility analysis

Question 2

The kinked demand curve model of Paul Sweezy explains

A

Price rigidity in Duopoly

B

Price rigidity in Oligopoly

C

Price determination in Duopoly

D

Quantity determination in Duopoly

Question 3

The psychological law of consumption is given by

A

A. C. Pigou

B

Milton Friedman

C

J. Tobin

D

J. M. Keynes

Question 4

High-powered money is also called as

A

base money

B

narrow money

C

broad money

D

plastic money

Question 5

Knife-edge problem arises in

A

Solow Model

B

Kaldor Model

C

Joan Robinson Model

D

Harrod-Domar Model

Question 6

India’s Second Five Year Plan was
based on

A

Harrod-Domar Model

B

Mahalanobi’s Model

C

Joan Robinson’s Model

D

Kaldor’s Model

Question 7

Primary deficit is

A

Fiscal deficit — relending by the Government

B

Revenue expenditure — revenue receipts

C

Fiscal deficit — interest payments

D

Total expenditure — total receipts

Question 8

Adjustment under gold-standard is carried out by

A

flexible exchange rate

B

exchange controls

C

variation in national income

D

price specie flow mechanism

Question 9

The average annual growth of agriculture during the Eleventh Five Year Plan period was

A

4 percent

B

3.3 percent

C

2.5 percent

D

4.5 percent

Question 10

Which of the following factors are responsible for changes in demand?
I. Changes in consumer taste
II. Changes in real income
III. Changes in distribution of income
IV. Changes in the rates of taxation Code:

A

I and II only

B

II and III only

C

I, II and IV only

D

I, II, III and IV

Question 11

According to classical theory, an increase in money supply leads to proportionate
I. Decrease in price level
II. Increase in price level
III. Fall in the value of money
IV. Rise in the value of money Codes:

Note: The following questions consist of two statements : One labelled as the ‘Assertion’ (A) and the other as ‘Reason’ (R). You are to examine these two statements carefully and select the answers to these items using the codes given below: Assertion (A) : Indifference curves are convex to the origin. Reason (R) : The marginal rate of substitution of X for Y
(MRSXY) is diminishing. Codes:

A

Both (A) and (R) are true and (R) is the correct explanation of (A)

B

Both (A) and (R) are true and (R) is not the correct explanation of (A)

C

(A) is true but (R) is false

D

Both (A) and (R) are false

Question 18

Assertion (A) : In monopolistic
competition, a firm
earns only normal profit in the long run. Reason (R) : A firm in monopolistic competition produces a commodity which has no close substitutes. Codes:

A

Both (A) and (R) are true and (R) is the correct explanation of (A)

B

Both (A) and (R) are true but (R) is not the correct explanation of (A)

C

(A) is true, but (R) is false

D

(A) is false, but (R) is true

Question 19

Assertion (A) : Life Cycle Hypothesis attempts to reconcile the short-run and the long run consumption functions. Reason (R) : Short-run consumption function implies that APC declines as income increases. Codes:

A

(A) is true but (R) is false

B

Both (A) and (R) are false

C

Both (A) and (R) are true but (R) is not the correct explanation of (A)

Both (A) and (R) are true but (R) is not the correct explanation for (A)

C

(A) is true but (R) is false

D

(A) is false but (R) is true

Question 23

Assertion (A) : Due to liberalisation
tele-density in India
increased from 18.2
percent to 76.8 percent
between March 2007
and December 2011. Reason (R) : Tele-density varies
across circles and there
is significant urban rural
divide. Codes:

A

Both (A) and (R) are true and (R) is the correct explanation for (A)

B

Both (A) and (R) are true but (R) is not the correct explanation for (A)

Arrange the following concepts in which they are used in statistical analysis
I. Sampling
II. Data processing
III. Test of hypothesis
IV. Drawing inferences Codes:

A

I, III, II, IV

B

III, II, I, IV

C

II, I, III, IV

D

IV, III, I, II

Question 33

Note: Match List-I with List-II and select the
correct answer from the codes given
below.

List I

List II

a. Cardinal utility Theory

1. Robinson

b. Ordinal Utility Theory

2. Edward Chamberlin

c. Monopolistic Competition

3. J. R. Hicks

d. Imperfect Competition

4. Joan Robinson

5. Marshall

a

b

c

d

(A)

3

4

5

2

(B)

5

3

4

2

(C)

5

3

2

4

(D)

1

3

2

5

A

(A)

B

(B)

C

(C)

D

(D)

Question 34

Which of the following pairs is correctly matched?

A

Perishable goods — Sugar

B

Public goods — Refrigerator

C

Private goods — Street lights

D

Free good — Air

Question 35

List I

List II

a. Law of Markets

1. Fisher

b. Quantity Theory of Money

2. R. F. Khan

c. Employment Multiplier

3. J. M. Keynes

d. Investment Multiplier

4. J. B. Say

Codes:

a

b

c

d

(A)

4

1

3

2

(B)

1

3

2

4

(C)

4

1

2

3

(D)

3

1

4

2

A

(A)

B

(B)

C

(C)

D

(D)

Question 36

Which one of the following pairs is
correctly matched?

Concepts

Economists

(A) Effective Demand

— A. W. Philips

(B) Risk and Uncertainty

— Milton Friedman

(C) Laissez-faire

— Keynes

(D) Demand Shift Inflation

— Charles Schultz

A

(A)

B

(B)

C

(C)

D

(D)

Question 37

List I

List II

a. Shadow prices

1. Gunnar Myrdal

b. Rolling plan

2. De - Gule

c. X-efficiency

3. Leibenstein

d. Indicative planning

4. J. Tinbergen

Codes:

a

b

c

d

(A)

1

4

2

3

(B)

4

1

3

2

(C)

3

2

1

4

(D)

2

3

4

1

A

(A)

B

(B)

C

(C)

D

(D)

Question 38

List I Name of the Committee

List II Name of the Chairman

a. The Taxation Enquiry Commission 1953-54

1. L. K. Jha

b.Indirect Taxation Enquiry Committee 1977

2. K.N. Raj

c. Committee on Taxation of Agricultural Wealth and Income

3. John Mathaiah

d. Direct Taxes Enquiry Committee

4. R. J. Chelliah

5. K. N. Wanchoo

Codes:

a

b

c

d

(A)

2

3

1

4

(B)

3

1

2

5

(C)

4

3

2

1

(D)

5

4

3

2

A

(A)

B

(B)

C

(C)

D

(D)

Question 39

List I

List II

a. Free trade area

1. No restriction on trade and factor movement

b. Customs union

2. Trade is free and no customs duties

c. Common market

3. No customs duties, common duty on non-members

d. Economic union

4. Advanced stage of integration

Codes:

a

b

c

d

(A)

2

1

3

4

(B)

3

2

4

1

(C)

2

3

1

4

(D)

1

3

4

2

A

(A)

B

(B)

C

(C)

D

(D)

Question 40

The following table gives the Central Government Expenditure on Social Services during 2011-12.

List I (Items)

List II (% of total social services expenditure)

a. Education, Sports, Youth Affairs

1. 4.63

b. Health and Family Welfare

2. 2.15

c. Water Supply and Housing

3. 2.10

d. Information and Broadcasting

4. 0.20

Codes:

a

b

c

d

(A)

1

2

3

4

(B)

3

2

1

4

(C)

2

3

1

4

(D)

4

1

2

3

A

(A)

B

(B)

C

(C)

D

(D)

Question 41

List I

List II

a. Averaging time and rate

1. Mode

b. Averaging rate of growth

2. Median

c. Middle item

3. Geometric Mean

d. Most repeated item

4. Harmonic Mean

5. Arithmetic Mean

Codes:

a

b

c

d

(A)

2

1

4

3

(B)

5

2

3

4

(C)

4

3

2

1

(D)

3

4

5

2

A

(A)

B

(B)

C

(C)

D

(D)

Question 42

Assertion (A) : The variance of a
distribution is always
positive. Reason (R) : The variance is the
average of the squared
deviations from the mean. Codes:

A

(A) and (R) are true but (R) is not the correct explanation for (A)

B

(A) and (R) are true but (R) is the correct explanation for (A)

C

(A) is true but (R) is false

D

(A) is false but (R) is true

Question 43

Which State has the largest coastal area in India?

A

Andhra Pradesh

B

Tamil Nadu

C

Kerala

D

Maharashtra

Question 44

Read the essay given below and answer questions from44to47 based on your understanding of the passage: Parallel to pauperization in the rural sector, air and water pollution from urban economic activities is a cause of environmental degradation in developing economies. The problems of pollution due to such factors as emission of noxious gas and water from factories, and piles of waste from urban households are universal, but often more serious in developing countries. It is important to recognize that environmental pollution from these sources tends to progress faster in developing than in developed economies.
Advanced economies have reached a stage at which the weight of economic activities shifts from the industrial to the service sectors in response to economic growth, so that consumption of energy as the basic source of pollution grows slower than growth in national income. Moreover, people in the high-income economies have high preference for environmental amenity relative to present consumption. Therefore, they are more prone to accept environmental regulations and taxation at the expense of their present income.
In contrast, in the early phase of industrialization, the share of industry in domestic income expands, resulting in increases in energy consumption faster than growth in national product. This tendency is often exacerbated by the policy bias to promote heavy and chemical industries from the early stage of development. Since anti-pollution regulations are usually weak in developing economies, increased energy consumption in the industrial sector tends to swell emission of noxious gas and water. Moreover, as many developing economies entered the era of motorization before railway networks were established, the density of automobiles has been high relative to their income levels, resulting in extreme city transportation congestion and serious air pollution. Which of the following is not a factor of urban pollution?

A

Noxious gases

B

Waste water

C

Deforestation

D

Solid waste

Question 45

Which one of the following is not a reason for reduction of pollution in developed countries?

A

Shifting to small and medium
industries

B

Shifting to service sector

C

Strict environmental regulations and taxation

D

High preference for environmental quality

Question 46

Developing countries are suffering from high level of pollution due to

A

Lack of strict implementation of environmental regulations

B

Increased energy consumption by industries

C

More automobiles

D

All the above

Question 47

People in developed economies prefer

A

More Present Consumption

B

More Present Income

C

Better Environmental Quality

D

Less Taxation

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SET/SLET Economics Paper III - Mock Test

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Congratulations - you have completed SET/SLET Economics Paper III - Mock Test.You scored %%SCORE%% out of %%TOTAL%%.Your performance has been rated as %%RATING%%

Your answers are highlighted below.

Question 1

The concept of outside money was
introduced by

A

J. M. Keynes

B

Gurley and Shaw

C

Don Patinkin

D

Milton Friedman

Question 2

The inverted ‘U’ shaped hypothesis was
given by

A

J. G. Williamson

B

Simon Koznets

C

Gunnar Myrdal

D

G. S. Fields

Question 3

Escheat is

A

A Direct tax

B

An indirect tax

C

A Grant-in-Aid

D

An Administrative Revenue

Question 4

The monetary approach to the Problem of balance of payments deficit was
developed during

A

1950 s

B

1960 s

C

1970 s

D

1980 s

Question 5

The rate at which Reserve Bank of India
lends to the banks is

A

Cash reserve ratio

B

Statutory liquidity ratio

C

Repo rate

D

Reverse repo rate

Question 6

The largest cottage industry in India is

A

Sericulture

B

Handloom

C

Pan masala

D

Soap industry

Question 7

Sustainable development seeks to

A

Meet the Present needs without depleting the natural capital

B

Meet the future needs at the cost of present

C

Meet the present needs without consideration for the future

D

Concentrate on the economic development alone

Question 8

The targeted growth rate of agriculture
during the Eleventh Five Year Plan was

A

3.5%

B

4.0%

C

4.5%

D

5.0%

Question 9

As the number of Explanatory variables
increases, R2 value will

A

Remain constant

B

Increase

C

Decrease

D

All of the above

Question 10

According to Marri’s model of the managerial enterprises, the firm is in equilibrium when it reaches the highest point on the

A

Demand-growth curve

B

Capital-growth curve

C

Balanced-growth curve

D

Unbalanced-growth curve

Question 11

Name of the organisation which has
launched the Free Trade Area (FTA) in
January 2002.

A

SAARC

B

WTO

C

ASEAN

D

UNCTAD

Question 12

Ministry of labour of the Government of India advised the State Governments in February, 2004 to revise the minimum wages for all scheduled employments not
below

A

Rs. 76

B

Rs. 66

C

Rs. 96

D

Rs. 46

Question 13

Which of the following are the ‘axioms’ of consumer theory?
I. Completeness
II Reflexibility
III. Transitivity Codes:

A

I and II only

B

II and III only

C

I and III only

D

I, II and III

Question 14

The value of Money Multiplier is determined by the
I. Currency ratio of the public
II. Required Reserve ratio at the Central Bank
III. Excess Reserve ratio of Commercial
Bank Codes:

A

I and II only

B

II and III only

C

I and III only

D

I, II and III

Question 15

According to Lebenstein, the ‘Growth Agents’ in the process of economic development include the
I. entrepreneur II. investor
III. saver IV.innovator

A

I and IV only

B

II and III only

C

I and III only

D

I, II and III

Question 16

Which of the following are the methods of repayment of public debt?
I. Sinking fund
II. Debt swapping
III. Capital levy
IV. Fiscal drag Codes:

A

I and II are correct

B

II and III are correct

C

I and III are correct

D

III and IV are correct

Question 17

Which of the following are the aims of
WTO?
I. promotion of free trade
II. protection of IPRs
III. promotion of resource flow across the
countries Codes:

A

I only

B

I and II only

C

I and III only

D

I, II and III

Question 18

Which ofthe following statements about commercial bank is correct?
I.It is a monetary based business organisation
II. It is a Unit Bank of RBI
III. It prints currency notes Codes:

A

I and II only

B

I only

C

I and III only

D

III only

Question 19

Industrial Licensing was abolished in 1991 for the following
I. Small scale industries
II. Multinational corporations
III. Export-oriented industries

A

I and II only

B

II and III only

C

III and I only

D

I, II and III

Question 20

Which of the following are the characteristics of the second stage of Demographic Transition?
I. High Birth rate
II. Falling Death rate
III. Growing the average size of family Codes:

A

I and II only

B

I, II and III

C

I and III only

D

II and III only

Question 21

Which of the following statements about service area approach are true?
I. It is a new strategy for rural lending
II. It covers a cluster of villages in its operation
III. It is followed by rural and semi-urban branches of commercial banks. Codes:

A random variable
I. is also known as stochastic variable
II. has well defined probability distribution
III. is also known as control variable
IV. is also known as target variable Codes:

A

I and II are correct

B

I and III are correct

C

I, II and IV are correct

D

I, II and III are correct

Question 24

Under which strategy there is one optimal choice for each player no matter what the other player does?
I. Dominant strategy
II. Mixed strategy
III. Weak strategy Codes:

A

II only

B

I only

C

I and II only

D

I, II, and III

Question 25

Which of the following is the custodian of foreign exchange reserves in India?
I. Finance Ministry II. Exim Bank
III. RBI IV. MNCs Codes:

A

I only

B

I and II only

C

III only

D

I, III and IV

Question 26

The policy of minimum support Prices of agricultural goods is designed to
I. assure seasonable income to the farmers
II. encourage farmers to produce food crops
III. prevent food prices from rising Codes:

A

I only

B

II and III only

C

I and III only

D

I and II only

Question 27

The following questions consists of two statements — one labelled as Assertion (A) and the other as Reason (R). You have to examine the statements carefully and select the correct answer from the codes given under the questions. Assertion (A) : Any reaction of competitors in oligopoly market is bound to take place after a considerable time lag. Reason (R) : The complexity of the internal organisation of oligopoly firms renders decision-making a lengthy process. Codes:

A

Both A and R are true and R is the correct explanation of A

B

Both A and R are true, but R is not the correct explanation

C

A is true, but R is false

D

A is false, but R is true

Question 28

Assertion (A) : In terms of the labour market analysis, Keynes observed that in reality, the wage rate is constant at a certain level. Reason (R) : Keynes observed that the trade unions do not agree to wage cuts unless they are threatened with loss of jobs. Codes:

A

A is correct, but R is not correct

B

A is not correct, but R is correct

C

Both A and R are correct, but R is not the correct explanation for A

D

Both A and R are correct, and R is the correct explanation for A

Question 29

Assertion (A) : Schumpeter’s theory of
economic Development
is not the accumulation
of capital, but the
introduction of
innovationS. Reason (R) : An entrepreneur would have the ability to
introduce innovations. Codes:

A

Both A and R are correct and R is the correct explanation for A

B

Both A and R are correct, but R is not the correct explanation for A

C

Both A and R are wrong

D

A is correct, but R is wrong

Question 30

Assertion (A): The burden of direct tax is not shiftable Reason (R) : Direct taxes do not have further market transactions Codes:

A

Both A and R are correct, but R is not the correct explanation of A

B

A is correct, but R is wrong

C

Both A and R are correct and R is the correct explanation of A

D

Both A and R are wrong

Question 31

Assertion (A) : In the recent times, there
has been a significant
increase in the foreign
exchange reserves of
India. Reason (R) : The process of
Globalisation has
provided incentives
for foreign direct investment Codes:

A

Both A and R are true, but R is not the correct explanation of A

B

A is true, but R is false

C

A is false, but R is true

D

Both A and R are true and R is the correct explanation of A

Question 32

Assertion (A) : The need for commercial
banks to hold on to
excess cash reserves to
meet unanticipated
deposit withdrawals
has been greatly
reduced due to the
growth in the size of Call
Money Market. Reason (R) : Call money market will
provide required funds
to the banks at short
notice to meet the
unanticipated deposit
withdrawals. Codes:

A

A and R are correct and R is the correct explanation of A

B

A is correct, but R is wrong

C

A is wrong, but R is correct

D

A and R are correct, but R is not the correct explanation of A

Question 33

Assertion (A) : The Public Sector
undertakings in India
have shown poor
performance. Reason (R) : Inefficient management
and political interference
are important reasons
for poor performance
of Public sector
undertakings. Codes:

A

Both A and R are correct and R is the correct explanation for A

B

Both A and R are wrong

C

Both A and R are correct, but R is not the correct explanation for A

D

A is correct, but R is wrong

Question 34

Assertion (A) : According to Kuznets,
the relationship between
the income distribution
and economic growth is
inverted ‘U’ shaped. Reason (R) : As the percapita income
increases, initial phase
of increasing inequality
will be succeeded by a
phase of decreasing
inequality. Codes:

A

Both A and R are wrong

B

A is true, but R is wrong

C

A is wrong, but R is true

D

Both A and R are true

Question 35

Assertion (A): Green Revolution in
India gave rise to
productivity of different
crops. Reason (R) : During the middle of
1960s, Indian Agricultural Scientists developed a
number of new high
yielding varieties ofwheat and rice. Codes:

A

A is correct, but R is wrong

B

A is wrong, but R is correct

C

Both A and R are correct

D

Both A and R are wrong

Question 36

Assertion (A): Slack variables are
introduced in linear
programming. Reason (R) : The inequalities in the
constraints are to be
converted into equalities. Codes:

A

A is true, but R is false

B

A is false, but R is true

C

A and R are true, but R is not the correct explanation for A

D

A and R are true and R is the correct explanation for A

Question 37

Assertion (A) : In the presence of
heteroscedasticity the
method of least squares
is to be used, provided
the error variances are
known. Reason (R) : Heteroscedasticity
destroys the
unbiasednessand
consistent properties of
OLS estimators. Codes:

A

Both A and R are true and R is the correct explanation for A

B

Both A and R are true, but R is not the correct explanation for A

C

A is false, but R is true

D

A is true, but R is false

Question 38

Assertion (A): Kaldor studies the
relation between growth
in population and growth
in income. Reason (R) : Kaldor tried to test the
Malthusian contention
that the growth rate of
population is a function of
the rate of increase in
income. Codes:

A

Both A and R are true

B

Both A and R are false

C

A is true, but R is false

D

A is false, but R is true

Question 39

Assertion (A): Globalisation is closer
integration of the
countries and people of
the World. Reason (R) : Revolution in communication
technology and removal
of barriers to trade
accelerated the process
of globalisation. Codes:

A

Both A and R are correct

B

Both A and R are wrong

C

Both A and R are correct and R is the correct explanation for A

D

Both A and R are correct, but R is not the correct explanation for A

Question 40

Assertion (A) : The adoption of farm
mechanisation in agriculture
poses a great challenge
for India. Reason (R) : The agricultural land
holdings are small and
fragmented that are not
conducive for farm
mechanisation. Codes:

A

Both A and R are true but R is not a correct explanation for A

B

Both A and R are true and R is the correct explanation for A

C

Both A and R are false

D

A is true but R is false

Question 41

According to the managerial theory of firm, the correct order of management from the top is
I. Top Management
II. Owner Share-holders
III. Financial Managers
IV. Board of Directors Codes:

A

I, II, IV, III

B

II, IV, I, III

C

II, IV, III, I

D

I, III, IV, II

Question 42

Identify the correct sequential order of the following based on their liquidity.
I. Bonds and securities
II. Demand deposits
III. Time deposits
IV. Currency notes Codes:

Note : Match List — I with List — II and select
the correct answer from the codes
given below

List—I

List—II

a) Marginal utility analysis

1. Behaviourist cardinalism

b) Indifference curve analysis

2. Behaviourist ordinalism

c) Revealed preference analysis

3. Introspective cardinalism

d) Modern utility theory

4. Introspective ordinalism

Codes:

a

b

c

d

(A)

3

4

2

1

(B)

3

2

4

1

(C)

1

2

4

3

(D)

3

2

1

4

A

(A)

B

(B)

C

(C)

D

(D)

Question 56

List—I

List—II

a) Dudley Dillard

1. Keynesian ism —Retrospect and prospect

b) R.E. Harrod

2. The critics of Keynesian Economics

c) Henry Hazlilt

3. The life of John Maynard Keynes

d) W.H. Hutt

4. The Economics of J.M. Keynes

Codes:

a

b

c

d

(A)

1

2

4

3

(B)

4

2

3

1

(C)

4

3

2

1

(D)

3

2

4

1

A

(A)

B

(B)

C

(C)

D

(D)

Question 57

List—I

List—II

a) Learning by doing

1. Adam Smith

b) Division of labour

2. J.R. Hicks

c) Stationary State

3. K.J.Arrow

d) Technical progress

4. J.S. Mill

Codes:

a

b

c

d

(A)

3

1

4

2

(B)

4

3

2

1

(C)

1

2

3

4

(D)

3

1

2

4

A

(A)

B

(B)

C

(C)

D

(D)

Question 58

Which of the following is not correctly matched?

(A) Gadgil formula

— Planning Commission

(B) Calamity Relief Fund

—Union Finance Commission

(C) State Finance Commission

– 73rd and 74th Constitution (Amendment) Act

(D) Imposition of service tax

— State Government

A

(A)

B

(B)

C

(C)

D

(D)

Question 59

List—I

List—II

a) Infant industry argument

1. Adam Smith

b) Factor price equalisation Theorem

2. Haberler

c) Opportunity cost principle

3. Fredrich List

d) Absolute cost advantage

4. Samuelson

5. David Ricardo

Codes:

a

b

c

d

(A)

1

5

3

2

(B)

2

1

5

4

(C)

3

4

2

1

(D)

4

2

1

3

A

(A)

B

(B)

C

(C)

D

(D)

Question 60

List—I

List—II

a) K.S. Krishna Swamy Committee

1. Working of Indian Monetary System

b) Narasimhan Committee

2. On Site Supervision of Banks

c) S. Padmanabhan Working Group

3. Priority Sector Lending

d) Chakrabarthy Committee

4. Profitability of Public Sector banks

Codes:

a

b

c

d

(A)

2

3

1

4

(B)

3

4

2

1

(C)

4

2

3

1

(D)

1

3

4

2

A

(A)

B

(B)

C

(C)

D

(D)

Question 61

List—I

List—II

a) R.K. Hazari

1. Committee on Public Enterprises

b) C. Ranga Rajan

2. M.R.T.P. Act

c) Omkar Goswami

3. Industrial licensing

d)Arjun Sen Gupta

4. Industrial sickness

5. Disinvestment of shares

Codes:

a

b

c

d

(A)

3

5

4

1

(B)

5

2

1

4

(C)

3

2

4

1

(D)

4

3

2

1

A

(A)

B

(B)

C

(C)

D

(D)

Question 62

List—I

List—II

a) Reproductive age-group

1. 15-24 years

b) Infant age group

2. 0-1 year

c) Youth population

3. 15-35 years

d) Young population

4. 15-44 years

Codes:

a

b

c

d

(A)

3

4

2

1

(B)

4

2

1

3

(C)

4

2

3

1

(D)

1

3

4

2

A

(A)

B

(B)

C

(C)

D

(D)

Question 63

List—I Agriculture Input

List—II Subsidy during 2008—09 (%)

a) Fertilizer

1. 20.61

b) Electricity

2. 47.60

c)Irrigation

3. 17.08

d) Other subsidies

4. 14.71

Codes:

a

b

c

d

(A)

4

3

1

2

(B)

3

4

2

1

(C)

1

2

3

4

(D)

2

3

4

1

A

(A)

B

(B)

C

(C)

D

(D)

Question 64

List—I (Techniques)

List—II (Applications)

a) Differentiation

1. Consumer surplus

b) Integration

2. Elasticity

c) Input-output analysis

3. Optimisation subject to constraints

d) Linear programming

4. Inter Industry relationships

Codes:

a

b

c

d

(A)

2

1

4

3

(B)

3

4

2

1

(C)

4

3

1

2

(D)

1

2

3

4

A

(A)

B

(B)

C

(C)

D

(D)

Question 65

Which of the following is not correct?

A

Classical range — Monetary policy

B

Neo-classical range — Income policy

C

Keynesian range — Fiscal policy

D

Intermediate range — Both fiscal and
monetary
policies

Question 66

Which one of the following is not correctly
matched?

A

BK. Keayala —Explicit concensus

B

Marakesh declaration — Patent Laws

C

Dunkel declaration — Tariffs and Trade

D

Doha declaration — Social clause

Question 67

Which one of the following is not correctly
matched?

A

Agriculture — Green Revolution

B

TRYSEM — Self Employment

C

MGNREGS — Wage Employment

D

IRDP — Urban Basic Services

Question 68

Which one of the following is not correctly
matched?

A

G. Myrdal — Asian Drama

B

Karl Marx — Das Capital

C

Kuznets — Strategy of Economic
Development

D

Nurkse R. — Problems of Capital
formation in Under
Developed Countries

Question 69

Para - Phrasing(Q. 69 - 73): Answer the questions from 69 to
73 by reading the following passage
Major Pillar of the Post- Washington Consensus is the identification of poverty reduction as an immediate objective of development assistance rather than a consequence of the economic growth the assistance is designed to stimulate. By nature, market competition is a strong instrument for increasing economic efficiency but not an instrument for improving equity. If poverty reduction is considered an overarching immediate objective, non market instruments may have to be used to redistribute market- produced income in favour of the poor. More over, if poverty is viewed not simply as receipt of a less than socially allowable minimum subsistence income, but also as a restrictions in human capability, in the sense used by Amartya Sen, then social services such as, education, health and social safety nets must be delivered to the poor through non-market channels. Linking these two pillars brings to the fore the importance of non-market institutions such as Government and Civil society.What is the objective of development assistance during post Washington consensus period?

A

Employment generation

B

Poverty reduction

C

Social Justice

D

Promotion of health

Question 70

Market Competition promotes

A

Equity

B

Education

C

Efficiency

D

Environmental quality

Question 71

How does Amartya Sen define poverty?

A

Failure to get required income

B

Failure to get required food

C

Failure to get adequate calories

D

Restriction in human capability

Question 72

What are the social services?

A

Education

B

Health

C

Social safety nets

D

All the above

Question 73

What are the non market institutions ?

A

Religion

B

Government

C

Civil society

D

Both B and C

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